Kemi Badenoch or Robert Jenrick will be crowned as the new Conservative Party leader on Saturday.
The election comes as the four-month-long race to replace Rishi Sunak reaches the finish line.
When the Conservatives last took an almighty pasting at a general election, in 1997, it took them 13 years and four leaders to make it back to power.
When Labour was turfed out in 2010, it took them 14 years and three leaders before they won again in July.
The result of the leadership ballot is expected to be announced late in the morning, with the members’ ballot having closed on Thursday.
The winner will be at the helm as the party looks to recover from the July election result which saw it return just 121 MPs.
Ms Badenoch described the party as a “family” and said that it is “much more to me than a membership organisation”. Mr Jenrick also called for the party to “move past the drama” of recent years and “unite”.
“Together we can put an end to the excuses, move past the drama, and unite our party,” he wrote on X.
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